The market for large acreage transitional/industrial property is alive and well in Western Maricopa County. Trey Champie with Headquarters West, Ltd. closed the sale of about 1,425 contiguous acres at Arlington Valley Farm on June 30th. The property is located about 12 miles west of downtown Buckeye. It is the largest farm in the Arlington Valley and in the Arlington Canal Company service area. The sale price of the land was $16,500,000, according to the commercial real estate tracking website Vizzda.
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Located in the Phoenix Active Management Area, the Arlington Valley Farm has two large water rights each covering the farm’s irrigated acreage. It owns shares in the Arlington Canal Company (est. 1897) and has a grandfathered groundwater irrigation right. The property also has substantial drill delineated mineral reserves. All water and mineral rights were conveyed in the sale.
The seller was Resource Land Holdings, LLC a Denver, Colorado based private equity firm that focuses on investments in various types of land assets including agriculture, timber and mineral resources. The buyer was Hanson Aggregates, LLC a subsidiary of HeidelbergCement, a multi-national building materials company.
The transaction involved extensive due diligence including interaction with federal, state and county agencies as well as working in concert with surveyors, geologists, engineers and attorneys. Trey commended Resource Land Holdings and Hanson Aggregates for their professionalism throughout the process to closing.
Transitional land deals and project siting are in Trey’s wheelhouse. Here in Arizona he located the Coolidge Generating Station for TransCanada Energy. Salt River Project purchased the power plant for $465 million in 2019; and the $1 billion plus Agua Caliente Solar Project for First Solar. Agua Caliente Solar is currently owned by NRG Energy and MidAmerican Energy, a Berkshire Hathaway Energy company.
Founded in 1983, Headquarters West, Ltd. is the largest agricultural real estate appraisal, brokerage and consulting company in Arizona, with offices in Scottsdale, Tucson, Cottonwood, Sonoita and St. Johns. Trey Champie leads the company’s transitional / industrial land brokerage and facility siting functions. For more information, email Champie@HeadquartersWest.com or call 520-235-3577.